The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s home healthcare equipment market report forecasts the home healthcare equipment market size to grow to $45.8 Billion by 2027, with a CAGR (compound annual growth rate) of more than 7%.

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Home Healthcare Equipment Market Size Forecast
The global home healthcare equipment market is expected to grow from $31.99 billion in 2022 to $34.44 billion in 2023 at a compound annual growth rate (CAGR) of 7.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The home healthcare equipment market size is expected to grow to $45.8 billion in 2027 at a CAGR of 7.4%.

North America held the largest home healthcare equipment market share.

Key Home Healthcare Equipment Market Driver ­– Rise In The Ageing Population
For instance, in September 2020, according to World Population Ageing 2020 Highlights, a US-based intergovernmental organization, 2020, there were 727 million people over the age of 65 in the world. Also, globally, it is anticipated that the percentage of people aged 65 and over will rise from 9.3% in 2020 to almost 16% in 2050. Therefore, the rise in the ageing population is driving the growth of the home healthcare equipment market going forward.

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Key Home Healthcare Equipment Market Trend – Technological Advancement
Companies operating in the home healthcare equipment market are adopting new technologies to sustain their position in the market.  For instance, in October 2022, CommScope, a US-based network infrastructure provider, launched the HomeSight system for healthcare and homecare. This system integrates a TV-connected smart camera with an edge computer, a robust cloud service for data transfer and device administration, environmental sensors, and an LTE connectivity module for households without broadband access or as a backup connection. This enhanced end-user experience improves patient availability, engagement, and uptake of care services, while minimising the need for in-person appointments or visits.

Home Healthcare Equipment Market Segment
1) By Product: Blood Glucose Monitor, Blood Pressure Monitor, Rehabilitation equipment, Other Product
2) By Service: Rehabilitation, Infusion Therapy, Unskilled Care, Respiratory Therapy, Pregnancy Care, Skilled Nursing, Hospice and Palliative Care
3) By Application: Diagnostics and Monitoring, Therapeutics, Care and Rehabilitation, Other Application
4) By End User: Hospitals or Clinics or Diagnostic Lab, Research and Development Centre, Home Care Settings

Home Healthcare Equipment Market Major Players and Strategies
Major players in the home healthcare equipment market are LifeScan Inc., Microlife Corporation, A&D Company Limited, Abbott Laboratories, Roche Healthcare, Panasonic, Yuwell, SANNUO, Osim International, Siemens AG, Insulet Corporation, Phonak, William Demant, Invacare, 3M Company, and ARKRAY Inc.

In December 2021, Paradigm, a US-based company engaged in catastrophic and complex health care challenges and improving lives, acquired HomeCare Connect for an undisclosed amount. This acquisition is expected to expand Paradigm’s specialized network and clinical solution sets, as well as extend the accountable care management concept into the home. It adds a highly complementary set of offerings to Paradigm’s product line and is a logical extension into the burgeoning home health industry. HomeCare Connect is a US-based company engaged in manufacturing home health, durable medical equipment (DME), and related services.

The Home Healthcare Equipment Global Market Report 2023 covers regional data on home healthcare equipment market size, home healthcare equipment market trends and drivers, opportunities, strategies, and home healthcare equipment market competitor analysis. The countries covered in the home healthcare equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Home healthcare equipment refers to the equipment that provides a medical purpose, can sustain repeated usage, and is suitable for use at home. Home healthcare equipment is used to serve a medical purpose and is appropriate for use in the home.

View More Reports Related To The Home Healthcare Equipment Market –
Home Health Care And Residential Nursing Care Services Global Market Report 2023
Healthcare Consulting Services Global Market Report 2023
Healthcare Personal Protective Equipment Global Market Report 2023

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